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Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
 Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008.
Mr Bennett said: “In that time shipping companies needed to show restraint when ordering new ships, to prevent stifling recovery. Yet the dark clouds of protectionism and slowing growth in key economies mean that the avoidance of overordering is now more important than ever.”
Addressing an audience of shipowners and operators at the Global Maritime Summit 2019, organised in conjunction with the Turkish Chamber of Shipping, Mr Bennett acknowledged that individual operators would legitimately make their own individual business decisions regarding new tonnage.
“Opinion is still divided on whether the rapid globalisation that has been experienced in the last thirty years may have run its course, and whether the slower rate of trade growth seen since the 2008 crisis represents some kind of permanent structural change,” he said. “Certainly in 2019, the outlook for the global economy and thus demand for maritime transport appears to be worsening.
“Ship ordering (in deadweight tonnage) fell 14% in 2018, about 17% below the average since the 2008 downturn. This suggests that many shipowners may indeed be resisting the temptation to over order and in early 2019, the worldwide shipping order book appeared to be stable at around 10% of the fleet,” he said. “However, the reluctance of governments in Asia, where the vast majority of ships are built, to address overcapacity in the shipbuilding sector remains a serious issue.”
Mr Bennett explained: “As well as the temptation to over order, decisions about when to recycle older ships are also fundamental to the equation. The good news is that a number of important regulatory uncertainties which have complicated decisions about when best to dispose of older ships are finally being resolved.
“In particular this includes the implementation dates of the IMO Ballast Water Management Convention. And while the precise cost of compliance with the IMO sulphur regulations is still unknown, the situation should become clearer after January 2020 now that IMO has confirmed that the implementation date of the global sulphur cap is irrevocable.”
ICS is also encouraged by the decision in 2018 by the Organization for Economic Co-operation and Development (OECD) to resume negotiations on an agreement to remove market distorting measures from shipbuilding that contribute to overcapacity. However it remains to be seen whether China (which is not an OECD member) will take an active part.
“Notwithstanding the risks of uncertainty in the immediate years ahead, in the long term there is always cause to remain optimistic,” said Mr Bennett. “The UN has revised its projections for population growth upwards to an incredible 8.6 billion in 2030 from 7.7 billion in 2018. Combined with seemingly unstoppable demand for higher living standards in emerging economies, this indicates that long term demand for international shipping should continue to increase significantly.”
Source: ICS
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
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